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3/25/15

3/25/15. BOSS™ Delivery Model Leah Reid Education Services. RootWorks.com. Learning Objectives. Today we will: Review BOSS Delivery System methods Learn the technology and tools Identify the firm and client roles within the BOSS workflow. RootWorks.com.

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3/25/15

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  1. 3/25/15 BOSS™ Delivery Model Leah ReidEducation Services RootWorks.com

  2. Learning Objectives Today we will: • Review BOSS Delivery System methods • Learn the technology and tools • Identify the firm and client roles within the BOSS workflow RootWorks.com

  3. BOSSTM (Back Office Support System) BOSSTMis the RootWorks’ model for providing outsourced bookkeeping and accounting services to clients. To ensure that client work is done efficiently, the technology we use for each client is standardized as much as possible. RootWorks.com

  4. Two Core Principles #1 Leverage a paperless workflow #2 Offer an environment that drives client collaboration

  5. BOSS Delivery System RootWorks.com

  6. BOSS™ Daily Model Workflow

  7. Bill Pay Technology • Goal: Paperless Workflow • Accomplished by using: • Bill.com • SmartVault Note: Both Bill.com and SmartVault integrate with QB Desktop and QBO

  8. Bill.com & SmartVault Workflow SmartVault Bill.com RootWorks.com

  9. Polling Question

  10. BOSS™ Daily Model Workflow

  11. Payroll Technology • Goal: Increase firm efficiencies with batch processing • Accomplished by using: • Accounting CS Payroll

  12. Payroll Workflow • Client sends payroll hours • Manual, import (TimeRack, remote payroll, Excel) • Payroll processor prints payroll checks* • Direct deposit (InterceptEFT), paycard • WebEE: checkstubs • Payroll processor pays payroll taxes • Federal: InterceptEFT • State/Local: Per state requirements

  13. Payroll Tax Form ProcessingPerformed by Firm • 941/940 • Register as a reporting agent • Electronically file • W2 • Sign up at SSA website • Create file for upload on SSA website • 1099 • Sign up through IRS Fire System • Create file for upload on IRS website

  14. Payroll Journal Entry* • Client Manager • Mark option for payroll checks not to post to GL in ACS • Enter payroll journal entry into QB/QBO as summary JE • This is possible because employees are using direct deposit and paycards

  15. BOSS™ Daily Model Workflow

  16. Monthly Reconciliation Technology • Goal: Provide client collaboration as needed and reduce time spent on reconciliation by client manager • Accomplished by using: • Hosted QB Desktop and QBO

  17. Monthly Reconciliation Workflow • Bill pay services: • Process kicked off with paperless workflow • Digital invoice linked to bill and coded by bookkeeper • Monthly reconciliation time is reduced • Client manager performs bank rec(s) • Note: QBO • Bank feeds download automatically • Auto match and bank feed rules

  18. Polling Question

  19. BOSS™ Daily Model Workflow

  20. Financial Statements Technology • Goal: Provide clients with professional, high quality financials using efficient tools and paperless delivery • Accomplished by using: • Accounting CS • FileCabinetCS • NetClientCS Portals

  21. Financial Statements Workflow • Client Manager: • Exports trial balance from QB Desktop/QBO • Monthly/ Quarterly basis • Import trial balance into ACS • Print financial statements to FileCabinetCS • Push financial statements to client portals from FileCabinetCS

  22. Polling Question

  23. Thank you! Additional Questions? Email Coaching@rootworks.com

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